Verastem’s (VSTM) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Verastem (NASDAQ:VSTM) in a research report report published on Friday, Benzinga reports.

A number of other research analysts also recently issued reports on the company. HC Wainwright reduced their price objective on Verastem from $17.50 to $7.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Truist Financial reduced their price target on shares of Verastem from $18.00 to $15.00 and set a “buy” rating for the company in a research report on Tuesday, August 13th. Guggenheim began coverage on shares of Verastem in a research report on Monday, September 30th. They issued a “buy” rating and a $13.00 price objective on the stock. B. Riley reduced their target price on shares of Verastem from $21.00 to $7.00 and set a “buy” rating for the company in a research report on Wednesday, July 24th. Finally, StockNews.com upgraded shares of Verastem from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.57.

Verastem Trading Up 11.3 %

Shares of VSTM stock opened at $2.96 on Friday. The company has a debt-to-equity ratio of 1.88, a quick ratio of 3.28 and a current ratio of 3.28. The company has a market capitalization of $119.11 million, a price-to-earnings ratio of -0.89 and a beta of 0.17. Verastem has a 52-week low of $2.10 and a 52-week high of $14.22. The company has a 50-day simple moving average of $2.67 and a two-hundred day simple moving average of $5.11.

Verastem (NASDAQ:VSTM) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.06) by $0.75. The business had revenue of $10.00 million during the quarter. Research analysts anticipate that Verastem will post -3.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Verastem

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cannon Global Investment Management LLC bought a new stake in shares of Verastem during the 1st quarter valued at $131,000. SG Americas Securities LLC bought a new position in Verastem in the 3rd quarter worth about $43,000. Acadian Asset Management LLC purchased a new position in Verastem during the 2nd quarter valued at about $82,000. Rhumbline Advisers increased its position in shares of Verastem by 4,172.0% during the second quarter. Rhumbline Advisers now owns 28,793 shares of the biopharmaceutical company’s stock valued at $86,000 after buying an additional 28,119 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Verastem in the second quarter worth about $203,000. Institutional investors own 88.37% of the company’s stock.

About Verastem

Verastem, Inc, a development-stage biopharmaceutical company, focuses on developing and commercializing drugs for the treatment of cancer in the United States. Its product candidates are Avutometinib, an orally available small molecule RAF/MEK clamp that inhibits the ras sarcoma RAF/MEK, ERK mitogen activated pathway kinase pathway which is involved in cell proliferation, migration, transformation, and survival of tumor cells; and Defactinib, an oral small molecule inhibitor of FAK and proline-rich tyrosine kinase for various solid tumors.